Fellow Nairalanders,

We do know that many people have bank accounts and even more than 1,2,3,........bank accounts with one or more than one bank. If somebody suddenly dies say by accident, armed robbery attack etc., without disclosing his/her (various) bank accounts and other financial involvements like Pension Fund, debts owed to him/her, in other words, no disclosure or proper handing over of documents to wife, husband, family member,friend or next of kin.

What do the banks or other financial houses do with the said monies? If after some years of non-performing, and nobody came up to genuinely claim the monies.

Pension Fund Administrators, what do you do with the dead person's money after maturity, if genuinely unclaimed?

To the individual, on hearing that your creditor is dead, what do you do with the money owed to him/her?

Tanx for your expert contributions.

Long Live Nairaland
Long Live Nairalanders
Long Live Nigeria.